Pakistan Stock Exchange Monday took a massive beating from the internal and external headwinds and closed in deep red with drastic declines.
BRIndex100 lost 97.21 points or 2.29 percent to close at 4,149.52 points. BRIndex100 touched intraday high of 4,244.12 points and intraday low of 4,143.30 points. Volumes stood at 154.242 million shares.
BRIndex30 declined by 612.05 points or 2.76 percent to close at 21,534.77 points with a turnover of 113.059 million shares.
The KSE-100 Index plunged by 824.70 points or 2.02 percent to close at 40,008.29 points. Trading activity remained low as daily volumes on the ready counter decreased to 179.095 million shares as compared to 180.706 million shares traded on previous session.
The market capitalization declined by Rs 126 billion to stand at Rs 7.719 trillion. Out of total 342 active scrips, 289 closed in negative, only 41 in positive while the value of 12 stocks remained unchanged.
WorldCall Telecom was the volume leader with 13.641 million shares. However, the scrip lost Re 0.07 to close at Rs 1.21 followed by Hascol Petrol (R) that declined by Re 1.00 to close at Rs 9.54 with 12.688 million shares.
Nestle Pakistan and Sapphire Fiber were the top gainers with Rs 175.00 and Rs 16.50, respectively to close at Rs 7975.00 and Rs 806.50. Wyeth Pak and Indus Dyeing were the top losers with Rs 29.99 and Rs 25.80, respectively to close at Rs 790.00 and Rs 510.00.
BR Automobile Assembler Index decreased by 73.51 points or 1.17 percent to close at 6,234.68 points with total turnover of 1.707 million shares.
BR Cement Index lost 35.23 points or 0.98 percent to close at 3,542.52 points with 26.632 million shares.
BR Commercial Banks Index plunged by 196.13 points or 2.05 percent to close at 9,355.45 points with 14.260 million shares.
BR Power Generation and Distribution Index declined by 136.06 points or 2.53 percent to close at 5,239.29 points with 10.764 million shares.
BR Oil and Gas Index fell by 133.38 points or 2.79 percent to close at 4,641.34 points with 16.712 million shares.
BR Tech. & Comm. Index closed at 914.53 points, down 29.73 points or 3.15 percent with 23.111 million shares.
An analyst at Arif Habib Limited said that the market took a significant toll from the internal and external headwinds faced these days. The index decline crossed minus 900 points, which built up throughout the day. The market closed negative 825 points and closed the session with 274 stocks in decline.
Selling was observed across-the-board, but was particularly seen in oil and gas chain. PPL's most anticipated discovery proved to be a miniscule one that dampened the investor sentiment. Resultantly, PPL traded near lower circuits by the end of session.
Cement sector led the volumes with 26.6 million shares, followed by Technology (23.1 million shares) and O&GMCs (22.7 million shares).
Sectors contributing to the performance include Banks (down 225 points), E&P (down 174 points), Power (down 71 points), Fertilizer (down 66 points) and Inv Banks (down 56 points).
Stocks that contributed positively include NESTLE (up 9 points), INDU (up 5 points), DGKC (up 3 points) and GHGL (up 1 point). Stocks that contributed negatively include HBL (down 93 points), PPL (down 91 points), HUBC (down 54 points), DAWH (down 51 points) and OGDC (down 49 points).
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